Steidlmayer on Markets: Trading with Market Profiletm (J. Steidlmayer and Steven B. Hawkins, 2002)

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  • Market Understanding x You = Results
  • Market activities steps
      1. Series of prices in one direction
      2. Trade to a price to stop the market
      3. Develop around that stopping price
      4. Move to efficiency (retracement)
    • Commodity trader identification (CTI) codes
      1. Local/specialist
      2. Commercial trading for own account
      3. Member trading off floor or having other member fill order
      4. General public/funds
    • Liquidity data bank report intrepretation steps
      1. Try to determine what direction the market was trying to go during the session. Was it trying to go higher, lower, a mixture of both—or is it impossible to tell? Do not be embarrassed to put a question mark here—sometimes it is difficult to determine.
      2. Having made this determination to the best of one’s ability, check whether volume was higher or lower than the previous day. In general more volume, coupled with a clear direction for the market, means continuation; lower volume means change.
      3. Compare the range of the volume value area for the day to that of the previous day. Is it larger or smaller? If it is larger and the market is up, it is a positive sign for continuation; if it is smaller, it is a negative sign for continuation in that direction.
    • The market is an organised medium that expresses human behaviour in different price areas at a given point in time always presenting an opportunity to someone.
    • Game plan
      • Work from background to foreground.
      • Incorporate the visualization process to ascertain where you are within the four steps of market activity.
      • Apply the internal time clock of the market to help supplement this information.
      • Utilize day structure (range parameters, single prints, idiosyncrasies of markets) to optimize entry mechanism.
      • Objectively mange positions (both winning and losing) with structure, not price.
      • Control risk.
      • Use stops.
      • Vary size.

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